NIFTY | Running on a ladder ❤️Wish we dont gap up or spoil the channel by open
CMP : 14890 SL : 14840 Target : 15006
Simple setup - But the momentum the channel / wedge is broke downside, we can expect some sharp fall due to profit booking. We can immediatley accept SL on longside and short to 14700, 14400 levels as it has some gaps to fill.
plz don't say Gap-up opening..i'll have heart attack...hahha ......... i have 14800 put bought @ 290. Expecting a gap down or at least a downside during intraday
srikartiram
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@mukeshsingh92, Welcome short club :D even I’ve sold 14800 Call options few lots by morning. But this view i analysed only post market hours hehe
mukeshsingh92
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@srikartiram, hahah great to know that.. and let me tell you the secret. RBI governor will come to our rescue on Friday.......if the Rate cut is done.........we both will be dead meat......and he hints about rate hike.....inflation growth.....then we can have a fun friday.
mukeshsingh92
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@srikartiram, i got afraid with gap up and sold the put 14800 @ 220 but remained in loss throughout the day. Last 5 minutes I covered the Sell and carried the put option.
Also have bought 15000 PUT during the day, that too is loss now .. buy was 345 ........... i wonder why Nifty didn't cracked today........... trapping everyone .!
mukeshsingh92
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@srikartiram, hopefully monday will be a gap down based on global Cues.......... everything now depends on Today's NASDAQ and other US market closing......... how about your Call option ? did you covered or still holding ?
srikartiram
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@mukeshsingh92, I just converted into straddle and i'm used to this. Still if you had PUT option you had chance to exit when market retraced again. This channel is strong now, US and Europe markets are strongly breaking out the current consolidation levels.
Monday we can monitor how this channel is performing.